A summer internship is often a good way to judge whether you would shine in a chosen profession or not. It gives you the time to understand a job, learn all about it and even make a mark for yourself – if you are willing to work hard on it. And that is what our internship experience of the week brings to us.
Why a Summer Internship
Meet Gunjan Mehta, who dabbled as an investment banking advisor with one such firm as part of his summer internship. A Commerce graduate from the University of Mumbai (2014), Mehta completed a post-graduate diploma in Management this year. And found a keen interest in the corporate world, rather than his father’s business.
“I did my summer internship from Proficio Advisors in Mumbai which is a boutique Investment Bank where I was into Investment Banking Division specialising in Food & Beverage Industry. My areas of interest are Investment Banking, Equity Market, Entrepreneurship and Business Management.”
This is how his internship in Proficio Advisors moulded his worldview towards such a specialised field and brought him closer to an option in it.
Q. What were you looking for in your internship? How many did you apply to before you got shortlisted?
“I was looking for an exposure in Finance like all the other students and I was advised by a senior to start using LinkedIn seriously. I did and started reaching out to people on LinkedIn and it helped me a lot to get my summer internship.”
However, it wasn’t a smooth run. “I had approached many but there was no luck till the time I was introduced to the Internship program by a CFA group and that is how I got my first break.”
Students have to keep their options open, you cannot throw tantrums by saying your specific field to the interviewer.
“I suggest students that they should be open to all fields since Internship helps you to understand your area of expertise better. Students should not get disheartened by rejections or no replies, this is a part and parcel of life. I had myself applied to 7-8 companies during my summer internship.”
Q. How did you get selected for your internship? When did you join it?
“I don’t know the exact basis on which I was selected but I can share with you that the interviewer was interested in my prior experience at Crisil and my interests in Investment Banking. I had joined Proficio during June 2016.”
Q. How was your internship experience?
The Internship Experience was rich since I was trained on all the aspects of Investment Banking.
The story goes like this;
Beginning: I was made to read research reports written by Proficio on Food and Beverage Industry and I was told to gather data and analyse the recent transactions in F&B Industry.
Middle of the Internship: I was working with the Analyst to find Restaurants who could get funded on the basis of their concept and market that they cater to and once they were contacted then we use to have meetings with the founders and understand their business and understand their financial position in order to take things forward.
End of the Internship: During the End I started working with our Senior Analyst on deals which were about to be close and hence I had got an overall experience of Investment Banking.
Q. What did you learn from your internship experience?
- Scouting Investment opportunity in Restaurant chains
- Creating Information Memos from restaurants seeking investment
- Handling the whole process under a company mentor
- Negotiating terms between Clients and Investors
- Ascribing value to restaurants as per Industry standards
- Trend research on the industry.
- Determining Revenue per outlet for evaluation purpose
- Understanding each outlet’s MIS to determine profits
Q. Do you feel more ‘ready’ for the job market?
YES! I feel more ready because I have seen the whole cycle from Deal Initiation to Deal closure as an Intern and I feel the experience would take me places. Still, I would recommend people who aspire for Investment banking to start with small boutique banks to get hands on experience on all activities involved in an Investment Bank.
Q. Would you recommend LetsIntern to others? If yes, Why?
Yes! A student cannot ask for anything more from websites like this who help you to get Internships. You should ask your older siblings how they had to struggle for Internships during their days when there weren’t portals like LetsIntern. LetsIntern is of great help since they send your resume right till the HR Manager of the company.
Q. In the end, do you have any tips that can help other students in getting a good internship?
I think I can give a list for that though people can have difference of opinion
- Upload a resume, build a profile on a portal like LetsIntern
- Build your connections online with your LinkedIn account
- Make a professional cover letter for yourself
- Check whether your resume is reader-friendly and in order
- Work on online/offline courses to add to our employability
- Make multiple resumes to match different objectives, skills and interests to the industry.
- Evaluate all the opportunity that knock your door
Did you like this latest internship experience? Or wish to read up on more? You may do so in our segment called Intern Diaries. Or find the right internship to suit your needs. And for queries, drop us a line in the comments section below.